Charles Schwab’s Insights & Ideas Podcast

After you listen:Learn about the wealth and investment management solutions Schwab offers to help you pursue your goals confidently.Listen to Schwab's newest podcast, Invested in the Game, featuring true stories of people who are driving the game of golf forward.In this episode of Financial Decoder, host Mark Riepe is joined by Stephanie Shadel, a senior wealth advisor at Schwab, to examine the scope of an investor's communication with their financial advisor. She emphasizes the importance of understanding clients' financial situations, building trust, and maintaining open communication. Throughout their discussion, they cover both the data-driven and emotional aspects of portfolio managment, offering insights into strengthening the dynamic with a professional advisor.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. Investing involves risk, including loss of principal.​Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance.Schwab does not recommend the use of technical analysis as a sole means of investment research.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. ​Neither the tax-loss harvesting strategy, nor any discussion herein, is intended as tax advice and Charles Schwab & Co. does not represent that any particular tax consequences will be obtained. Tax-loss harvesting involves certain risks including unintended tax implications. Investors should consult with their tax advisors and refer to the Internal Revenue Service (IRS) website at www.irs.gov about the consequences of tax-loss harvesting.Schwab Wealth Advisory™ ("SWA") is a non‐discretionary investment advisory program sponsored by Charles Schwab & Co., Inc. ("Schwab"). Schwab Wealth Advisory, Inc. ("SWAI") is a Registered Investment Adviser and provides portfolio management for the SWA program. Schwab and SWAI are affiliates and are subsidiaries of The Charles Schwab Corporation.Portfolio Management provided by Schwab Wealth Advisory, Inc., a Registered Investment Adviser and affiliate of Charles Schwab & Co., Inc. (Schwab). Please read the Schwab Wealth Advisory and the Schwab Wealth Advisory, Inc. Disclosure Brochures for information and disclosures about this program. The Wealth Advisor, Associate Wealth Advisor, and other representatives making investment recommendations in your Schwab Wealth Advisory accounts are employees of Schwab Wealth Advisory, Inc.The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.(0525-03FK)

After you listen:Find more of Daniel Stone's research on his website.Schwab's newest podcast, Invested in the Game, features true stories of people who are driving the game of golf forward.In this episode of Financial Decoder, host Mark Riepe is joined by economist Daniel Stone, Associate Professor of Economics at Bowdoin College and chair of the economics department, to discuss his reseach into how behavioral biases shape decisions. Together, they unpack how reference points and prospect theory can skew our judgment, drawing on insights from golf and basketball. Their conversation reveals how the same cognitive patterns that affect athletes under pressure can also influence everyday financial choices.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.  All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.  Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. Investing involves risk, including loss of principal. The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Diversification strategies do not ensure a profit and do not protect against losses in declining markets.The books Thinking Fast and Slow and Undue Hate: A Behavioral Economic Analysis of Hostile Polarization in US Politics and Beyond are not affiliated with, sponsored by, or endorsed by Charles Schwab & Co., Inc. (CS&Co.). Schwab has not reviewed the book and makes no representations about its content.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.0525-V0MH

After you listen:Learn more about the story of how May Day became National Investing Day.In this bonus episode, Mark takes a deep dive into the evolution of investing accessibility over the past century. From the barriers that once kep the public out of financial markets to key moments like May Day, he expolores the forces that gradually opened the door to broader participation in investing.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes.Important DisclosuresInvestors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus carefully before investing.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. Investing involves risk, including loss of principal. Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.Apple, the Apple logo, iPad, iPhone, and Apple Podcasts are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.Spotify and the Spotify logo are registered trademarks of Spotify AB.0525-SLKS

After you listen:To learn about the news and policies from Washington that impact your portfolio, listen to the WashingtonWise podcast.For weekly insights on the market and economy, listen to the On Investing podcast.Market volatility can stir powerful emotions, making it tempting to abandon long-term financial plans in favor of short-term reactions. In this episode, Mark Riepe is joined by Susan Hirshman, a director of wealth management for Schwab Wealth Advisory and the Schwab Center for Financial Research, to explore why emotional investing often leads to poor outcomes and how to stay focused on what you can control, from portfolio structure to tax strategies. Susan shares practical steps to help investors stay grounded and react relative to their long-term financial plan rather than their short-term emotions. Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. Investing involves risk, including loss of principal. Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance.The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.Diversification, asset allocation and rebalancing strategies do not ensure a profit and do not protect against losses in declining marketRebalancing may cause investors to incur transaction costs and, when a non-retirement account is rebalanced, taxable events may be created that may affect your tax liabilityRoth IRA conversions require a 5-year holding period before earnings can be withdrawn tax free and subsequent conversions will require their own 5-year holding period. In addition, earnings distributions prior to age 59 1/2 are subject to an early withdrawal penalty.Schwab Wealth Advisory™ ("SWA") is a non‐discretionary investment advisory program sponsored by Charles Schwab & Co., Inc. ("Schwab"). Schwab Wealth Advisory, Inc. ("SWAI") is a Registered Investment Adviser and provides portfolio management for the SWA program. Schwab and SWAI are affiliates and are subsidiaries of The Charles Schwab Corporation.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.(0425-NNA5)

After you listen:Listen to our episode "How Can You Build Your Pre-Retirement Checklist?"Read more on the topic in Rob Williams' article "The Most Important Ages of Retirement."Certain birthdays carry more financial weight than others. In this episode, Mark walks through the ages that matter most in retirement planning. From increased contribution limits to withdrawal requirements, he explains why these checkpoint dates are important and how they shape your options.Other resources mentioned in the episode: "Retirement topics—Required minimum distributions (RMDs)" from the IRS websiteSchwab Moneywise—Teaching KidsFinancial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. Investing involves risk, including loss of principal. The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.0425-HKX0

After you listen:Read Patrick's article, 7 Car Buying Mistakes That Could Cost YouIn this episode, Mark Riepe and Patrick Means explore the financial and behavioral aspects of car buying, including the biases that can cloud our judgment when making the decision. Their conversation covers practical advice on financing, maintenance, and the importance of research and preparation.Links mentioned in the episode: Kelley Blue BookEdmundsConsumer ReportsFinancial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Investing involves risk, including loss of principal.All  names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.0325-C7C1

After you listen:Explore more of Schwab's market commentary and education for bond investors.In this episode, Mark Riepe and Kathy Jones delve into the essentials of bond investing. They discuss the fundamentals that every investor should understand, including the nature of bonds, the significance of credit risk, the relationship between interest rates and bond prices, and the concept of duration. Their conversation also touches on psychological barriers to sound strategies for managing bond investments, the implications of the yield curve, and the Federal Reserve's influence on the bond market.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes.Important DisclosuresInvestors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus carefully before investing.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. Investing involves risk, including loss of principal. Past performance is no guarantee of future results.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.A bond ladder, depending on the types and amount of securities within the ladder, may not ensure adequate diversification of your investment portfolio. This potential lack of diversification may result in heightened volatility of the value of your portfolio.As compared to other fixed income products and strategies, engaging in a bond ladder strategy may potentially result in future reinvestment at lower interest rates and may necessitate higher minimum investments to maintain cost-effectiveness. Evaluate whether a bond ladder and the securities held within it are consistent with your investment objective, risk tolerance and financial circumstances.​Tax-exempt bonds are not necessarily a suitable investment for all persons. Information related to a security's tax-exempt status (federal and in-state) is obtained from third parties, and Charles Schwab & Co., Inc. does not guarantee its accuracy. Tax-exempt income may be subject to the Alternative Minimum Tax (AMT). Capital appreciation from bond funds and discounted bonds may be subject to state or local taxes. Capital gains are not exempt from federal income tax.International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets. Investing in emerging markets may accentuate these risks.This information provided here is for general informational purposes only, and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, you should consult with a qualified tax advisor, CPA, Financial Planner, or Investment Manager.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.

After you listen:Explore more of Schwab's education on fraud prevention.In this episode, Mark Riepe discusses the rising threat of cybercrime, focusing on the psychological tactics used by modern fraudsters to exploit their victims. Featured guest and Certified Fraud Examiner Lisa Lang emphasizes the importance of skepticism and awareness among other strategies for protecting yourself from financial scam attempts.Links mentioned in this episode:Identity Theft Central | Internal Revenue ServiceGuide to Identifying and Avoiding Securities Fraud | SEC.gov Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Investing involves risk, including loss of principal.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.(0325-1CDT)

After you listen:Visit Schwab Moneywise to learn more about financial literacy.Read more insights from experts like Cindy Scott on Schwab's Money Talk.In this episode of Financial Decoder, Mark Riepe discusses the complexities of setting financial goals with Cindy Scott. They explore the emotional challenges of goal setting, the importance of specificity, and how to prioritize multiple goals. The conversation also touches on aligning financial goals and relationships, the impact of social media on financial planning, and the strategies for overcoming financial anxiety. Listeners are encouraged to create a financial plan based on their personal values and to celebrate their progress along the way.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.  All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.  Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. Investing involves risk, including loss of principal. The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information. The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.0225-W84J

After you listenRead Cooper Howard's 2025 Municipal Bond Outlook.Read Collin Martin's 2025 Corporate Bond Outlook.Read Kathy Jones's 2025 Treasury Bonds and Fixed Income Outlook.Follow the Schwab Center for Financial Research on X @SchwabResearch.Is the bond market caught between the Federal Reserve's plans to cut interest rates and the risk of higher inflation and federal debt levels? In Part 2 of our 2025 Market Outlook, we focus on the fixed income markets, including corporate and muni bonds. First, Kathy Jones interviews Collin Martin about his outlook for investment-grade corporate bonds, floating-rate notes, and preferred securities.Next, Cooper Howard offers his outlook on the municipal bond market. He and Kathy also discuss credit quality and the implications of potential tax law changes.Finally, Kathy gives her 2025 outlook for Treasuries and the fixed income markets overall. On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.If you enjoy the show, please leave a rating or review on Apple Podcasts.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. Investing involves risk, including loss of principal. Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.​Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.Preferred securities are a type of hybrid investment that share characteristics of both stock and bonds. They are often callable, meaning the issuing company may redeem the security at a certain price after a certain date. Such call features, and the timing of a call, may affect the security's yield. Preferred securities generally have lower credit ratings and a lower claim to assets than the issuer's individual bonds. Like bonds, prices of preferred securities tend to move inversely with interest rates, so their prices may fall during periods of rising interest rates. Investment value will fluctuate, and preferred securities, when sold before maturity, may be worth more or less than original cost. Preferred securities are subject to various other risks including changes in interest rates and credit quality, default risks, market valuations, liquidity, prepayments, early redemption, deferral risk, corporate events, tax ramifications, and other factors.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Tax-exempt bonds are not necessarily a suitable investment for all persons. Information related to a security's tax-exempt status (federal and in-state) is obtained from third parties, and Schwab Center for Financial Research does not guarantee its accuracy. Tax-exempt income may be subject to the Alternative Minimum Tax (AMT). Capital appreciation from bond funds and discounted bonds may be subject to state or local taxes. Capital gains are not exempt from federal income tax.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.This information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, you should consult with a qualified tax advisor, CPA, Financial Planner, or Investment Manager.Indexes are unmanaged, do not incur management fees, costs and expenses, and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). Bloomberg or Bloomberg's licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg's licensors approves or endorses this material or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.(1224-CMBF)

After you listenFollow the hosts on social media:Kathy Jones on X and LinkedIn.Liz Ann Sonders on X and LinkedIn.After another year of the bull market, what's in store for stocks in 2025? In this year-end episode, Schwab experts look ahead to consider what investors might expect from the markets in the new year.First, Liz Ann Sonders, Schwab's chief investment strategist, speaks with senior investment strategist Kevin Gordon. Liz Ann and Kevin discuss their perspective on the direction of the U.S. economy and stock market. She and Kevin cover tariffs, immigration, and potential policy changes, among other topics. Uncertainty remains a major theme.Next, Kathy Jones, Schwab's chief fixed income strategist interviews Jeffrey Kleintop—Schwab's chief global investment strategist. He analyzes and explains what 2025 might hold for the global economy and markets.On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.If you enjoy the show, please leave a rating or review on Apple Podcasts.Important DisclosuresInvestors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus carefully before investing.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.  Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Investing involves risk, including loss of principal. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.Digital currencies such as bitcoin are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument.International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets.Indexes are unmanaged, do not incur management fees, costs and expenses, and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). Bloomberg or Bloomberg's licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg's licensors approves or endorses this material or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.Apple, the Apple logo, iPad, iPhone, and Apple Podcasts are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.Spotify and the Spotify logo are registered trademarks of Spotify AB.(1224-BM0F)

After you listen:Check out the 2024 tax rates and brackets.Learn more about donor-advised funds.Explore more tax-planning content.Mark Riepe breaks down important 2024 tax updates, covering changes to income tax brackets, standard deductions, and retirement contribution limits. He shares actionable year-end tax strategies to help you maximize savings, including tips on retirement account contributions, HSAs, and charitable donations. Plus, Mark provides key questions to ask yourself as you plan for the year ahead, ensuring you're making the most of every opportunity to reduce your tax liability and boost your financial efficiency. Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder  on Spotify to comment on episodes.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.This general information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice and is not intended to be construed as tax advice. This information cannot be used for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions. Where specific advice is necessary or appropriate, Schwab recommends consulting with a qualified tax professional, CPA, financial planner, or investment manager. The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.(1224-A62X)

After you listen:Listen to the Choiceology podcast, hosted by Katy Milkman.Read the article "Charitable Donations: The Basics of Giving."Read the article "12 Tax-Smart Charitable Giving Tips for 2024."In this special episode of Financial Decoder, the team explores the theme of gratitude through personal stories, scientific insights, and reflections on holiday traditions. The conversation highlights the emotional and psychological benefits of gratitude, emphasizing its role in enhancing well-being and fostering positive relationships. Listeners are encouraged to reflect on their own experiences of gratitude and consider how it can impact their lives, especially during the holiday season.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.(1124-82A5)

After you listen:Watch the video version of this episode on the Charles Schwab YouTube Channel.Visit the Schwab Wealth Advisory site to learn more about Schwab's approach to wealth management.Discover helpful educational resources about personal finance at Schwab Moneywise.In this special episode, host Mark Riepe is joined in-studio by Stephanie Shadel, a senior wealth advisor at Schwab Wealth Advisory, to help define wealth management and explain what a wealth advisor generally does for their clients.After delineating when personal finance topics begin to justify needs for the broader, more holistic scope of wealth management, they discuss some of the key elements involved, including investment planning, retirement planning, risk management, education support, banking, estate planning, and tax planning. Later, Stephanie speaks to the personalization of financial strategies and the corresponding importance of understanding clients' personal histories and preferences. She and Mark also talk about the impact of cognitive and emotional biases on financial decision-making, especially when factoring in the influences of a spouse, business partner, or family member.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on his LinkedIn or on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes.Important DisclosuresSchwab Wealth Advisory™ ("SWA") is a non‐discretionary investment advisory program sponsored by Charles Schwab & Co., Inc. ("Schwab"). Schwab Wealth Advisory, Inc. ("SWAI") is a Registered Investment Adviser and provides portfolio management for the SWA program. Schwab and SWAI are affiliates and are subsidiaries of The Charles Schwab Corporation.Portfolio Management provided by Schwab Wealth Advisory, Inc., a Registered Investment Adviser and affiliate of Charles Schwab & Co., Inc. (Schwab). Please read the Schwab Wealth Advisory and the Schwab Wealth Advisory, Inc. Disclosure Brochures for information and disclosures about this program. The Wealth Advisor, Associate Wealth Advisor, and other representatives making investment recommendations in your Schwab Wealth Advisory accounts are employees of Schwab Wealth Advisory, Inc.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.  Investing involves risk, including loss of principal.Market fluctuations may cause the value of investment fund shares held in a donor-advised fund (DAF) account to be worth more or less than the value of the original contribution to the funds.​Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.There are risks associated with investing in dividend paying stocks, including but not limited to the risk that stocks may reduce or stop paying dividends.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.Schwab Moneywise® is provided by Charles Schwab & Co., Inc.[1124-4L1N]

Mark Riepe is joined by Michael Townsend, managing director of legislative and regulatory affairs at Schwab, to discuss the cognitive and emotional biases that influence political decision-making, the gap between campaign promises and legislative realities, and the complexities surrounding federal debt and entitlement programs like Social Security and Medicare. Their conversation emphasizes the importance of understanding the legislative process, the impact of affective forecasting on political perceptions, and the disconnect between political actions and market performance. Michael also highlights the challenges of addressing long-term issues in a short-term political environment and the need for investors to filter out noise and focus on their long-term goals.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes.Important DisclosuresThe policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.  Investing involves risk, including loss of principal.The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.Apple, the Apple logo, iPad, iPhone, and Apple Podcasts are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.Spotify and the Spotify logo are registered trademarks of Spotify AB.(1024-1YBC)

In this episode of Financial Decoder, host Mark Riepe delves into the key aspects of succession planning for business owners, including how our behavioral tendencies may influence the decisions we make around a business's future. He's joined by Austin Jarvis, a director of estate, trust, and high-net-worth tax at the Schwab Center for Financial Research, to discuss the unique challenges faced by business owners when keeping a business within the family versus selling to a third party. Austin highlights the need for proper documentation, the role of specialists, and the impact of cognitive and emotional biases on the different steps of the process. He references real-life examples that illustrate the complexities of business transitions, underscoring the necessity of a well-thought-out succession plan.Resources mentioned by Mark in the episode:"Business Succession: 3 Ways to Transfer Your Business""How to Handle an Inherited Business""How to Plan, Launch, and Maintain a Business""5 Takeaways from TV's Succession"Schwab Small Business SolutionsSchwab Trust, Estate & CharitableSchwab Wealth AdvisoryFollow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.  Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.  Investing involves risk, including loss of principal.The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Schwab Wealth Advisory™ ("SWA") is a non‐discretionary investment advisory program sponsored by Charles Schwab & Co., Inc. ("Schwab"). Schwab Wealth Advisory, Inc. ("SWAI") is a Registered Investment Adviser and provides portfolio management for the SWA program. Schwab and SWAI are affiliates and are subsidiaries of The Charles Schwab Corporation.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.(1024-YWBA)

In this episode of Financial Decoder, host Mark Riepe and Susan Hirshman discuss the financial aspects of owning a pet. Susan highlights the responsibilities, costs, and emotional attachment that come with pet ownership, emphasizing the importance of financial planning. Mark asks her about the role of pet insurance in covering unexpected expenses and for tips for comparing policies. They also explore creative workarounds for those who may not be able to afford a pet on their own.Susan Hirshman is a director of wealth management for Schwab Wealth Advisory and the Schwab Center for Financial Research. She's also a Chartered Financial Analyst, a Certified Financial Planner Professional and a Certified Public Accountant—and a pet owner.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes. Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Schwab Wealth Advisory™ ("SWA") is a non‐discretionary investment advisory program sponsored by Charles Schwab & Co., Inc. ("Schwab"). Schwab Wealth Advisory, Inc. ("SWAI") is a Registered Investment Adviser and provides portfolio management for the SWA program. Schwab and SWAI are affiliates and are subsidiaries of The Charles Schwab Corporation.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.Apple, the Apple logo, iPad, iPhone, and Apple Podcasts are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.Spotify and the Spotify logo are registered trademarks of Spotify AB.(0924-VGUA)

Taxes are just one part of estate planning. People are also asked to consider custody arrangements, medical decisions, and legal issues. But it comes as no surprise that people who have worked their whole lives to build an estate are wary of letting taxes and fees eat away at their hard-earned assets.  Further complicating the current environment is the fact that lifetime estate and gift tax exemption thresholds are poised to be cut in half at the stroke of midnight December 31, 2025, leading to a potentially sharp jump in some estates' tax liability. But there's still time to prepare. On this episode of Financial Decoder, Mark interviews Austin Jarvis, director of estate, trust, and high-net-worth tax at the Schwab Center for Financial Research. They discuss why everyone needs a will, various estate planning documents, and what to do if you have a large estate that might owe more taxes later.You can read articles from Austin Jarvis, including “Estate Planning for Low Interest Rates” and “How to Help Your Grandkids Pay for College” on Schwab.com. Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Investing involves risk, including loss of principal.The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.Schwab does not provide tax advice. Clients should consult a professional tax advisor for their tax advice needs.Consult with an attorney and tax advisor prior to taking any action based upon this information.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.(0824-LC7F)

SummaryMark Riepe is joined by Rob Williams and Susan Hirshman to examine one of the most critical retirement decisions: When should you take Social Security?After you listen:Check out the helpful resources Susan mentions on the Social Security Administration's website.Listen to Mike Townsend's WashingtonWise podcast to stay abreast of the policy debates surrounding government programs like Social Security and Medicare.In this episode of Financial Decoder, host Mark Riepe examines one of the most critical retirement decisions: When should you take Social Security? When you claim too early, your benefits are reduced, and yet a large percentage of people claim at the earliest possible age. What's driving this decision? Mark, along with his guests Rob Williams and Susan Hirshman, look at three psychological phenomena that could impact the decision.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.[0824-HMCL]

After you listen:Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes.Listen to the Schwab podcast Choiceology with Katy Milkman.Starting July 26th, athletes from around the world will compete in the 2024 Summer Olympics in Paris. Decision-making biases affect many aspects of the Olympic Games, from prospective host cities' bids to judges' scores to whom fans choose to root for. On this episode of Financial Decoder, Mark Riepe illustrates how some of these cognitive and emotional biases present themselves through the many elements of the games—and how they might contain lessons to apply to our own daily financial decisions.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Investing involves risk, including loss of principal.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.[0724-EV5G]

The conversation around financial planning is often dominated by long-term goals like retirement or saving to buy a home. But what about saving for short-term goals that are still important to you, like travel and vacations? On this episode of Financial Decoder, Cindy Scott, a CERTIFIED FINANCIAL PLANNER™ professional at Charles Schwab with 25 years of experience, returns to the show to explain how to prioritize and save for short-term goals like these. She and Mark discuss practical ways to fit wants and wishes into your financial plan without sacrificing your needs and long-term financial future. Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Investing involves risk, including loss of principal.​Money Market Funds- An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors.Cash equivalent investments are cash management strategies that seek to prevent the loss of an investment's total value. Although a cash management product may seek to maintain a stable or constant net asset value, there can be no assurance it will do so.The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.0724-BMYS

Annuities are an interesting instrument in financial services. They're both simple and complicated, and that combination often means they're frequently misunderstood.To kick off Season 17 of Financial Decoder, Mark is joined again by guest Rob Williams, who heads the Financial Planning, Retirement Income, and Wealth Management team at the Schwab Center for Financial Research.In their discussion, they break down the basic functions of annuities, some problems they attempt to solve, and the role they might play in an investor's retirement-planning strategy. Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Investing involves risk, including loss of principal.The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.Supporting documentation for any claims or statistical information is available upon request.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.Apple, the Apple logo, iPad, iPhone, and Apple Podcasts are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.Spotify and the Spotify logo are registered trademarks of Spotify AB.Charles Schwab & Co., Inc., a licensed insurance agency, distributes certain insurance and annuity contracts issued by non-affiliated insurance companies. Not all products are available in all states.(0624-9440)

All eyes were on the Fed in the first half of 2024, but with core PCE holding steady and no rate cuts, how did the other parts of the economy and the markets fare? In this midyear episode, Schwab experts look ahead to the second half of 2024 to consider what investors might expect from the U.S. stock market, the global markets, and policy and politics in Washington D.C.First, Liz Ann Sonders and Kevin Gordon discuss the current trends and bifurcations in the equity market. They highlight the significant spread between large-cap and small-cap performance, with the S&P 500® outperforming the Russell 2000. They also discuss the divergence within large-cap stocks, particularly in the growth trio of tech, communication services, and consumer discretionary sectors. The conversation emphasizes the concentration of performance in a small number of major drivers, such as Nvidia, Microsoft, Meta, and Amazon. They also touch on the bifurcation between index-level gains and weaker member-level performance in the NASDAQ. The conversation concludes by noting the relationship between market bifurcations and broader economic trends.Next, Liz Ann interviews Jeffrey Kleintop, Schwab's chief global strategist. Their conversation covers the global economic outlook, China's market performance, central bank policy, geopolitical risk, election risks, and asset allocation. Jeff discusses the recovery in the global manufacturing sector, China's stock market performance, central bank rate cuts, geopolitical developments, and the importance of international diversification.Finally, Kathy Jones interviews Mike Townsend, Schwab's managing director of legislative and regulatory affairs and the host of the WashingtonWisepodcast. They discuss the legislative agenda for the second half of the year, the upcoming presidential election, the regulatory agenda, and the battle for control of Congress. On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.If you enjoy the show, please leave a rating or review on Apple Podcasts.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request. Investing involves risk, including loss of principal.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Small cap investments are subject to greater volatility than those in other asset categories. International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets. Investing in emerging markets may accentuate these risks.Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.Rebalancing does not protect against losses or guarantee that an investor's goal will be met. Rebalancing may cause investors to incur transaction costs and, when a non-retirement account is rebalanced, taxable events may be created that may affect your tax liability.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.Commodity-related products carry a high level of risk and are not suitable for all investors. Commodity-related products may be extremely volatile, may be illiquid, and can be significantly affected by underlying commodity prices, world events, import controls, worldwide competition, government regulations, and economic conditions.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.Digital currencies such as bitcoin are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument.Schwab does not recommend the use of technical analysis as a sole means of investment research.Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.Apple, the Apple logo, iPad, iPhone, and Apple Podcasts are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.Spotify and the Spotify logo are registered trademarks of Spotify AB.The Global Manufacturing Purchasing Managers Index (PMI) is a survey-based indicator of the economic health of the global manufacturing sector. The PMI index includes the major indicators of: new orders, inventory levels, production, supplier deliveries and the employment environment.The MSCI EAFE Equal Weighted Index includes the same constituents as the MSCI EAFE Index (large and mid-cap securities from Developed Markets countries around the world excluding the US and Canada), with an alternative weighting scheme where at each quarterly rebalance date, all index constituents are weighted equally.London Stock Exchange Group plc (LSEG) is a United Kingdom-based stock exchange and financial information company headquartered in the City of London, England. It owns the London Stock Exchange, Refinitiv, LSEG Technology, FTSE Russell, and majority stakes in LCH and Tradeweb.(0624-8A7Z)

Your financial life can accumulate disorder and inefficiency over time. Lots of accounts, lots of holdings, and lots of priorities without a clear organizational structure. If this sounds like your portfolio, a good spring cleaning or decluttering could be in order. On this episode of Financial Decoder, Susan Hirshman, a director of wealth management for Schwab Wealth Advisory and the Schwab Center for Financial Research, is back to share her suggestions for tidying up your finances. Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresInvestors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus carefully before investing.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.A rollover of retirement plan assets to an IRA is not your only option. Carefully consider all of your available options which may include but not be limited to keeping your assets in your former employer's plan; rolling over assets to a new employer's plan; or taking a cash distribution (taxes and possible withdrawal penalties may apply). Prior to a decision, be sure to understand the benefits and limitations of your available options and consider factors such as differences in investment related expenses, plan or account fees, available investment options, distribution options, legal and creditor protections, the availability of loan provisions, tax treatment, and other concerns specific to your individual circumstances.Please note that this content was created as of the specific date indicated and reflects the author's views as of that date. It will be kept solely for historical purposes, and the author's opinions may change, without notice, in reaction to shifting economic, business, and other conditions.Investing involves risk, including loss of principal. Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance. ​Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.​Rebalancing does not protect against losses or guarantee that an investor's goal will be met. Rebalancing may cause investors to incur transaction costs and, when a non-retirement account is rebalanced, taxable events may be created that may affect your tax liability.​Neither the tax-loss harvesting strategy, nor any discussion herein, is intended as tax advice and  Charles Schwab & Co., Inc. does not represent that any particular tax consequences will be obtained. Tax-loss harvesting involves certain risks including unintended tax implications. Investors should consult with their tax advisors and refer to the Internal Revenue Service (IRS) website at www.irs.gov about the consequences of tax-loss harvesting.The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.Supporting documentation for any claims or statistical information is available upon request.​Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.Schwab Wealth Advisory™ ("SWA") is a non‐discretionary investment advisory program sponsored by Charles Schwab & Co., Inc. ("Schwab"). Schwab Wealth Advisory, Inc. ("SWAI") is a Registered Investment Adviser and provides portfolio management for the SWA program. Schwab and SWAI are affiliates and are subsidiaries of The Charles Schwab Corporation.Schwab Moneywise® is provided by Charles Schwab & Co., Inc.(0424-ZJPT)

Successful investors know that choosing what to sell is just as important as choosing what to buy. However, findings from a recent study suggest that even professional portfolio managers are subject to psychological forces while making buying and selling decisions. On this episode, Mark Riepe discusses these recent findings with Alex Imas, professor of behavioral science and economics at the University of Chicago Booth School of Business and co-author of the study "Selling Fast and Buying Slow: Heuristics and Trading Performance of Institutional Investors."Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresInvestors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus carefully before investing.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles SchwabInvesting involves risk, including loss of principal.​Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance. All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.The Schwab Center for Financial Research is a division of Charles Schwab & Co.Apple, the Apple logo, iPad, iPhone, and Apple Podcasts are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.(0324-RY6R)

Figuring out how to cover college expenses often means navigating a bewildering range of options, programs, and plans. As the financial burden of higher education grows, so does the decision-making complexity for those pursuing a degree. Some even wonder whether college is still a worthwhile investment. On this episode of Financial Decoder, Mark Riepe discusses the variables around saving and paying for college with Senior Research Analyst Chris Kawashima. Read Chris Kawashima's article "8 Mistakes to Avoid When Planning for College Costs."Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Investing involves risk, including loss of principal.Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance. All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Qualified education expenses can include tuition, fees, books, supplies, equipment, and room and board. Certain costs associated with tuition, participation in a registered apprenticeship program, or payment of a qualified education loan up to $10,000 may also be considered qualified educational expenses. The availability of tax or other benefits may be conditioned on meeting certain requirements, such as residency, purpose for or timing of distribution, or other factors. Clients should consult a qualified tax advisor to discuss their individual situation.Investors should consider, before investing, whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available in such state's qualified tuition program.Please note that this content was created as of the specific date indicated and reflects the author's views as of that date. It will be kept solely for historical purposes, and the author's opinions may change, without notice, in reaction to shifting economic, business, and other conditions.The Schwab Center for Financial Research is a division of Charles Schwab & Co.DefinitionsVenn diagram: A diagram illustrating the relation of specific items through labeled circles and the areas where they overlap.(0324-NDC7)

Not all compensation takes the form of a cash salary or bonus. Today, many startups and most of the companies on the Fortune 500 list allow their employees to take ownership in the company through stock awards, employee stock purchase plans, stock options, or some other form of equity compensation. Despite this boom of employee ownership offerings, employee education and familiarity around these offerings appears to be falling behind.On this episode of Financial Decoder, host Mark Riepe is joined by Stacie Sands, a director on Schwab's Stock Plan Services team and a Certified Equity Professional. Together they unpack equity compensation, the forms it takes, and how to navigate the decisions that come with it.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Please note that this content was created as of the specific date indicated and reflects the author's views as of that date. It will be kept solely for historical purposes, and the author's opinions may change, without notice, in reaction to shifting economic, business, and other conditions.​Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors.Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.The Schwab Center for Financial Research is a division of Charles Schwab & Co.Stock Plan Services provides equity compensation plan services and other financial services to corporations and employees through Charles Schwab & Co., Inc. (“Schwab”). Schwab, a registered broker dealer, offers brokerage and custody services to its customers.(0224-KU0N)

The Kansas City Chiefs won last year's Super Bowl (LVII) and another just a few years before in 2020. The San Francisco 49ers last won a championship in 1995. In this short bonus episode, Mark Riepe shares his insights on how a concept from 18th-century mathematician Daniel Bernoulli might speak to our perceptions of utility, or emotional benefit, even regarding a team's preparation for a championship game.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder.If you enjoy the show, please leave us a rating or review on Apple Podcasts.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.  All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.  Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Past performance is no guarantee of future results.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Please note that this content was created as of the specific date indicated and reflects the author's views as of that date. It will be kept solely for historical purposes, and the author's opinions may change, without notice, in reaction to shifting economic, business, and other conditions.The Schwab Center for Financial Research is a division of Charles Schwab & Co.(0224-JN9Y)

Sometimes an oft-repeated axiom, maxim, or cliché has at least a small piece of truth to it. Others make sense and are true in some situations, but not others. The world of finance and investing is no exception to the coining of popular axioms and the misconceptions that can go along with them—especially when it comes to trading stocks. Traders are well-supplied with frequently repeated sayings that speak to perceived data patterns. And they must work to gut-check choices plagued by their own emotional biases.On this episode of Financial Decoder, host Mark Riepe is joined by Nathan Peterson, director of derivatives analysis, to unpack a handful of these more ubiquitous expressions around investing and trading and give insight into how much weight they should carry in your decision-making.To read the study Mark references on the connections between risk tolerance and visceral pain, check out "Relating the Visceral Factor of Pain to Domain-Specific Risk Attitudes" in the Journal of Behavioral Decision Making.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Investing involves risk, including loss of principal.​Past performance is no guarantee of future results.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Schwab does not recommend the use of technical analysis as a sole means of investment research.Please note that this content was created as of the specific date indicated and reflects the author's views as of that date. It will be kept solely for historical purposes, and the author's opinions may change, without notice, in reaction to shifting economic, business, and other conditions.Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.S&P 500® Index-Measures the performance of 500 leading publicly traded U.S. companies from a broad range of industries. It is a float-adjusted market-capitalization weighted index.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly.​Supporting documentation for any claims or statistical information is available upon request.The Schwab Center for Financial Research is a division of Charles Schwab & Co.(0224-H6D2)

A job change is a big change, and it's one of those changes happening to people with greater frequency for a variety of reasons. For many of these job seekers and switchers, past and future employers offer some kind of retirement savings plan, meaning these job transitions come with decisions to make around retirement planning for those investing in them.Do you leave your 401(k) where it is? Roll it over to a new one? Open a new account and put the money in there? What are your other options? The right choice for your situation isn't always clear. This episode's guest, Sarah Buchardt, a corporate financial consultant and CERTIFIED FINANCIAL PLANNER™ professional at Schwab, will help us navigate these questions.To read the study Mark references on the connections between gratitude and a charitable mindset, check out "Gratitude, Finance, and Financial Gratitude Reminders in Charitable Giving: A Repeated Experiment Over Time" in Financial Services Review.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. All expressions of opinion are subject to changes without notice in reaction to shifting market, economic, and geopolitical conditions.Data herein is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.Investing involves risk, including loss of principal.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.​This information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, you should consult with a qualified tax advisor, CPA, Financial Planner, or Investment Manager.A rollover of retirement plan assets to an IRA is not your only option. Carefully consider all of your available options which may include but not be limited to keeping your assets in your former employer's plan; rolling over assets to a new employer's plan; or taking a cash distribution (taxes and possible withdrawal penalties may apply). Prior to a decision, be sure to understand the benefits and limitations of your available options and consider factors such as differences in investment related expenses, plan or account fees, available investment options, distribution options, legal and creditor protections, the availability of loan provisions, tax treatment, and other concerns specific to your individual circumstances.The Schwab Center for Financial Research is a division of Charles Schwab & Co.There are certain eligibility requirements for working with a dedicated Financial Consultant. Apple, the Apple logo, iPad, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.Google Podcasts and the Google Podcasts logo are trademarks of Google LLC.Spotify and the Spotify logo are registered trademarks of Spotify AB.(1223-3546)

After a tumultuous year for the markets, what's in store for 2024? In this year-end episode, Schwab experts look ahead to consider what investors might expect from the markets in the new year.First, Liz Ann Sonders, Schwab's chief investment strategist, speaks with Senior Investment Strategist Kevin Gordon. Liz Ann offers her perspective on the direction of the U.S. economy and stock market. She and Kevin discuss inflation, interest rates, company earnings, and the job market, among other topics.Next, Kathy Jones, Schwab's chief fixed income strategist, interviews her colleagues Collin Martin and Cooper Howard. Kathy looks at what bond investors might expect from the Federal Reserve and fixed income assets in the new year. She and Fixed Income Strategist Collin Martin recap the year in the corporate bond market and look ahead for what's next in bond investments in 2024. Kathy also discusses the muni bond market with Fixed Income Strategist Cooper Howard. Then, Jeffrey Kleintop—Schwab's chief global investment strategist—joins Liz Ann on the show and examines what 2024 might hold for the global economy and markets.Finally, Mike Townsend, Schwab's managing director of legislative and regulatory affairs, offers his outlook on what to expect from a possible government shutdown, a busy regulatory environment, and the 2024 election.On Investing is an original podcast from Charles Schwab. For more on the show, visit Schwab.com/OnInvesting.If you enjoy the show, please leave a rating or review on Apple Podcasts.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request. Investing involves risk, including loss of principal.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors.Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.Commodity-related products carry a high level of risk and are not suitable for all investors. Commodity-related products may be extremely volatile, may be illiquid, and can be significantly affected by underlying commodity prices, world events, import controls, worldwide competition, government regulations, and economic conditions.Small cap investments are subject to greater volatility than those in other asset categories. International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets. Investing in emerging markets may accentuate these risks.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.Digital currencies such as bitcoin are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument.The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.Schwab does not recommend the use of technical analysis as a sole means of investment research.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.The Global Manufacturing Purchasing Managers Index (PMI) is a survey-based indicator of the economic health of the global manufacturing sector. The PMI index includes the major indicators of: new orders, inventory levels, production, supplier deliveries and the employment environment.The Employment component of the Eurozone Manufacturing Purchasing Managers Index (PMI) measures the conditions surrounding the cost of employment business expenses experienced by surveyed business leaders in the Eurozone. The Input Prices component of the Eurozone Composite Purchasing Managers Index (PMI) measures the conditions surrounding the prices of raw materials and other business expenses experienced by surveyed business leaders in the Eurozone.   The MSCI EAFE Equal Weighted Index includes the same constituents as the MSCI EAFE Index (large and mid-cap securities from Developed Markets countries around the world excluding the US and Canada), with an alternative weighting scheme where at each quarterly rebalance date, all index constituents are weighted equally.The S&P 500 Equal Weighted Index includes the same constituents as its parent index, the S&P 500, with each index constituent represented equally. (1223-3U7U)

With over 70 million freelancers in the U.S., freelancing obviously appeals to a lot of workers and offers a lot of benefits to those who wish to work for themselves. However, it doesn't offer a 401(k) program, and that means saving for retirement is not as easy as filling out a form and giving it to HR. In fact, freelancers are essentially their own HR department, and that adds some complexity.On this episode of Financial Decoder, host Mark Riepe speaks with Susan Hirshman, a director of wealth management for Schwab Wealth Advisory and the Schwab Center for Financial Research. They discuss the challenges freelancers face in their financial lives, as well as the options they have to invest for retirement and get the most out of their savings.To read the study Mark references about the effect of visualization on risk-taking, Check out "Imagining Risk Taking: The Valence of Mental Imagery Is Related to the Declared Willingness to Take Risky Actions" in the Journal of Behavioral Decision Making.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. All expressions of opinion are subject to changes without notice in reaction to shifting market, economic, and geopolitical conditions.Data herein is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.Investing involves risk, including loss of principal.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.​This information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, you should consult with a qualified tax advisor, CPA, Financial Planner, or Investment Manager.Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.Schwab Wealth Advisory™ ("SWA") is a non‐discretionary investment advisory program sponsored by Charles Schwab & Co., Inc. ("Schwab"). Schwab Wealth Advisory, Inc. ("SWAI") is a Registered Investment Adviser and provides portfolio management for the SWA program. Schwab and SWAI are affiliates and are subsidiaries of The Charles Schwab CorporationThe Schwab Center for Financial Research is a division of Charles Schwab & Co.There are certain eligibility requirements for working with a dedicated Financial Consultant. Apple, the Apple logo, iPad, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.Google Podcasts and the Google Podcasts logo are trademarks of Google LLC.Spotify and the Spotify logo are registered trademarks of Spotify AB.1123-3WNB

Most people look forward to retirement—after all, most of us save money during our working lives to fund our golden years when we'll have more time to do what we enjoy. However, it's hard to do detailed planning if you haven't pinpointed, at least approximately, what you want to achieve in retirement. In other words, the first step for retirement planning is to imagine what you want your retirement to look like. Without a vision or goal, you can't make an effective plan. Once you take this first step of visualization, you can start to take more concrete steps to make it happen.On this episode of Financial Decoder, host Mark Riepe speaks with Patrick Means, vice president and branch manager at Schwab. They discuss a series of concrete steps that are included on what we call the pre-retirement checklist. In other words, what do you need to take care of in the handful of years, months, and days before you retire?To hear more about the power of checklists, listen to the Choiceology episode "A Successful Failure."To read the study Mark references about active and passive risk taking, Check out "Differentiating Passive from Active Risk Taking: The Role of Self-Control and Time Perspective" from the Journal of Behavioral Decision Making. Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresInvesting involves risk, including loss of principal.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. All expressions of opinion are subject to changes without notice in reaction to shifting market, economic, and geopolitical conditions.All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Data herein is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.​This information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, you should consult with a qualified tax advisor, CPA, Financial Planner, or Investment Manager.Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.There are certain eligibility requirements for working with a dedicated Financial Consultant. Apple, the Apple logo, iPad, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.Android is a trademark of Google LLC. Use of this trademark is subject to Google Permissions.Spotify and the Spotify logo are registered trademarks of Spotify AB.[1123-3LYP]

Recent interest rate increases have inflated the cost of debt, which can have a profound effect on individuals carrying a mortgage on their home but also approaching retirement. Is it beneficial to pay off the mortgage prior to retirement or to continue to make your normal payments of interest and principal each month? Are there other forms of debt that should take priority over a mortgage? As retirement approaches, decisions regarding debt can seem overwhelming, and it's important to consider your individual situation.On the Season 15 premiere of Financial Decoder, host Mark Riepe speaks with Rob Williams, managing director of financial planning, retirement income, and wealth management at the Schwab Center for Financial Research. They explore the potential benefits and drawbacks of paying off a mortgage early and how that might affect your portfolio leading into retirement. You can also check out the article "Should You Pay Off a Mortgage Before You Retire?" and other retirement content on Schwab's Insights & Education site.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder.If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresInvesting involves risk including loss of principal.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.There are certain eligibility requirements for working with a dedicated Financial Consultant.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. All expressions of opinion are subject to changes without notice in reaction to shifting market, economic, and geopolitical conditions.All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Data herein is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Diversification strategies do not ensure a profit and do not protect against losses in declining markets.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.Apple, the Apple logo, iPad, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.Android is a trademark of Google LLC. Use of this trademark is subject to Google Permissions.Spotify and the Spotify logo are registered trademarks of Spotify AB.(1023-3ER2)

Charles Schwab & Co. founder and Chairman of the Board Chuck Schwab discusses the decisions that led him to create a revolutionary business model for the brokerage industry. Chuck talks about his decision to start a business, his difficulties raising capital, and even how he convinced his wife to mortgage the house to support his upstart company. He and Mark also discuss the 1983 sale of the company to Bank of America, how he bought the company back—and how Chuck framed both decisions to his employees and the board of directors.The goal of Financial Decoder is to help listeners make better financial decisions. And while the decisions Chuck describes are in the context of his life, many of us will make decisions that may be smaller in scale but are of the same basic type: when to sell, when to change direction when things aren't going well, when to ask for help, when to borrow money, and many others. And in the context of our own lives, these can be high-stakes decisions indeed.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresInvesting involves risk including loss of principal.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. All expressions of opinion are subject to changes without notice in reaction to shifting market, economic, and geopolitical conditions.Data herein is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.This information provided here is for general informational purposes only, and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, you should consult with a qualified tax advisor, CPA, Financial Planner, or Investment Manager.​Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.Apple, the Apple logo, iPad, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.Android is a trademark of Google LLC. Use of this trademark is subject to Google Permissions.Spotify and the Spotify logo are registered trademarks of Spotify AB.(1023-31WF)

Today's financial landscape is more complex than ever, encompassing a huge range of investment opportunities. Yet, the advancement of technology has made moving money easier and faster than ever before. While some investors enjoy making financial decisions on their own, this can be an overwhelming experience for others. Many people want to hire a financial advisor to assist in their financial decision-making. But how do you go about finding the right advisor to achieve their goals? How do you get started?On this episode of Financial Decoder, Mark speaks with Bryan Olson, head of Investor Advice Solutions at Schwab and president of Schwab Wealth Advisory™. They discuss the reasons why someone might seek a financial advisor, the different designations of advisor, what questions to ask a potential advisor, and how to find the right one for you.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder.If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresInvesting involves risk including loss of principal.There are certain eligibility requirements for working with a dedicated Financial Consultant.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. All expressions of opinion are subject to changes without notice in reaction to shifting market, economic, and geopolitical conditions.Data herein is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Diversification strategies do not ensure a profit and do not protect against losses in declining markets.Portfolio Management provided by Schwab Wealth Advisory, Inc., a Registered Investment Adviser and affiliate of Charles Schwab & Co., Inc. (Schwab). Please read the Schwab Wealth Advisory and the Schwab Wealth Advisory, Inc. Disclosure Brochures for information and disclosures about this program. The Wealth Advisor, Associate Wealth Advisor, and other representatives making investment recommendations in your Schwab Wealth Advisory accounts are employees of Schwab Wealth Advisory, Inc.This content is made available and managed by Charles Schwab & Co., Inc. ("Schwab"). The purpose of this information is to educate investors about working with an independent Registered Investment Advisor (RIA). The RIAs and their representatives featured here use Schwab Advisor Services for custody, trading, and operational support. Inclusion should not be construed as a recommendation, an endorsement, or a sponsorship by Schwab. Many independent RIAs and other financial services professionals receive compensation for services in a variety of ways. It is the responsibility of each investor to determine which method of compensation offers the lowest total costs and best serves the interests and needs of the investor.Apple, the Apple logo, iPad, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.Android is a trademark of Google LLC. Use of this trademark is subject to Google Permissions.Spotify and the Spotify logo are registered trademarks of Spotify AB.(0823-3JN1)

Many people's financial lives are deeply intertwined with their employee benefits. Saving for retirement in a 401(k) is a vital part of many of our financial plans. And an increasing number of employees receive restricted stock units as part of their compensation package—or they enroll in their employer's Employee Stock Purchase Plan. Is there a holistic approach to treating financial planning when so much is tied to one's employer?In episode of Financial Decoder, we dig into the details of how to maximize your workplace benefits. First, Mark speaks with Brian Bender, head of Workplace Financial Services at Schwab. They discuss the three most important things people need to know about their 401(k) plan, changing jobs, how to get more engaged in your retirement savings, what learning resources are available, and much more.Next, Mark talks with Chris Genetti. Chris is a CERTIFIED FINANCIAL PLANNER™ professional and corporate financial consultant at Schwab, based in Santa Clara, California. Mark and Chris discuss the role of equity compensation in a financial plan, what financial wellness looks like, and some new directions in employee benefits.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder.If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important Disclosures:Investors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges and expenses. You can obtain a prospectus, or if available, a summary prospectus by visiting schwabassetmanagement.com. Please read it carefully before investing.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Diversification strategies do not ensure a profit and do not protect against losses in declining markets.​Supporting documentation for any claims or statistical information is available upon request.A rollover of retirement plan assets to an IRA is not your only option. Carefully consider all of your available options which may include but not be limited to keeping your assets in your former employer's plan; rolling over assets to a new employer's plan; or taking a cash distribution (taxes and possible withdrawal penalties may apply). [Prior to a decision, be sure to understand the benefits and limitations of your available options and consider factors such as differences in investment related expenses, plan or account fees, available investment options, distribution options, legal and creditor protections, the availability of loan provisions, tax treatment, and other concerns specific to your individual circumstances.Money market funds are neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors.Schwab Stock Plan Services provides equity compensation plan services and other financial services to corporations and employees through Charles Schwab & Co., Inc. ("Schwab"). Schwab, a registered broker‐ dealer, offers brokerage and custody services to its customers.Workplace Financial Services is a business enterprise which offers products and services through Schwab Retirement Plan Services, Inc.; Schwab Stock Plan Services; and Designated Brokerage Services. Schwab Retirement Plan Services, Inc., provides recordkeeping and related services with respect to retirement plans. Schwab Stock Plan Services is a division of Charles Schwab & Co., Inc. providing equity compensation plan services and brokerage solutions for corporate clients. Schwab Designated Brokerage Services (DBS), a division of Charles Schwab & Co., Inc., provides technology solutions for corporate clients with regulatory requirements to monitor employee security transactions.  which.  Schwab Retirement Plan Services, Inc., and Charles Schwab & Co., Inc. (“Schwab”) (Member SIPC) are separate but affiliated entities, and each is a subsidiary of The Charles Schwab Corporation.Vesting means ownership of your account or your entitlement to benefits. You are always 100% vested in any contributions that you make to your retirement plan, even if you leave your employer. However, depending on what type of retirement plan you have and the choices your employer has made about the benefits under the plan, vesting of employer contributions may be immediate or may take up to seven years. Your plan's disclosure documents will contain the specific vesting schedule.(0823-33SL)

Risk management is one of the most important parts of financial planning. But we seldom consider how those risks evolve as we get older. It's just one of many blind spots that can leave investors of all ages vulnerable. Many people might expect to protect their senior or vulnerable parents, but the risk-management process should begin much earlier when you make your own financial plan.In this episode, Mark speaks with Joel Sauer, director for senior and vulnerable investor investigations in Schwab's Financial Crimes Risk Management division. They discuss how aging affects financial decision-making. Joel goes into detail about some of the various scams that investors need to understand in order to avoid them. Next, Mark talks with Nancy Murphy. Nancy is a CERTIFIED FINANCIAL PLANNER™ professional and Accredited Estate Planner with extensive experience in a broad range of investment and financial-planning issues. She and Mark discuss building a plan to account for the pandemic and which legal documents are essential for helping to mitigate aging risks. Financial Decoder is an original podcast from Charles Schwab. Rebroadcast was edited for clarity.To learn more, visit Schwab.com/FinancialDecoder.If you enjoy the show, please leave a rating or review on Apple Podcasts. Important Disclosures:The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Investing involves risk including loss of principal.Past performance is no guarantee of future results.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. (0723-39D0)

If you or someone you care for has been diagnosed with a disability, you may be faced with many challenges. While this can be an overwhelming experience, there are various financial protections and other specialized tools available to aid you in your journey.First, we hear Bob's story. After his son experienced an accident resulting in a disability, Bob Dilaura transitioned into a passion-filled career as a financial planner. In this role, Bob helps families of individuals with special needs achieve their financial goals.Next, Mark speaks with Bob to discuss the various trusts, accounts, and other resources offered when a disability exists.Bob Dilaura is a senior financial planner at Schwab and is a Chartered Special Needs Consultant from the American College of Financial Services.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Schwab Wealth Advisory™ ("SWA") is a non-discretionary investment advisory program sponsored by Charles Schwab & Co., Inc. ("Schwab"). Schwab Wealth Advisory, Inc. ("SWAI") is a Registered Investment Adviser and provides portfolio management for the SWA program. Schwab and SWAI are affiliates and are subsidiaries of The Charles Schwab Corporation.(0723-3E2B)

To kickstart Season 14, Schwab experts look ahead to consider what investors might expect in the second half of 2023.First, Mark talks with Liz Ann Sonders, Schwab's chief investment strategist. Liz Ann offers her perspective on the direction of the U.S. economy and stock market.Next, Jeffrey Kleintop—Schwab's chief global investment strategist—discusses the possibility of a slowing global economy and what this could mean for the world's markets.Then, Mark speaks with Kathy Jones, Schwab's chief fixed income strategist. Kathy looks at what bond investors might expect from the Federal Reserve and fixed income assets in the remainder of 2023.Finally, Mike Townsend, managing director in Schwab's Office of Legislative and Regulatory Affairs, offers his outlook for what's next for Washington now that the debt ceiling drama is resolved.Read the full 2023 Mid-Year Market Outlook from the Schwab Center for Financial Research.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab.If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Diversification, asset allocation, and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. Rebalancing may cause investors to incur transaction costs and, when a nonretirement account is rebalanced, taxable events may be created that may affect your tax liability.International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets. Investing in emerging markets may accentuate these risks.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.All corporate names are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Digital currencies, such as bitcoin, are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view Bitcoin as a purely speculative instrument.Environmental, social and governance (ESG) strategies implemented by mutual funds, exchange-traded funds (ETFs), and separately managed accounts are currently subject to inconsistent industry definitions and standards for the measurement and evaluation of ESG factors; therefore, such factors may differ significantly across strategies. As a result, it may be difficult to compare ESG investment products. Further, some issuers may present their investment products as employing an ESG strategy, but may overstate or inconsistently apply ESG factors. An investment product's ESG strategy may significantly influence its performance. Because securities may be included or excluded based on ESG factors rather than other investment methodologies, the product's performance may differ (either higher or lower) from the overall market or comparable products that do not have ESG strategies. Environmental (“E”) factors can include climate change, pollution, waste, and how an issuer protects and/or conserves natural resources. Social (“S”) factors can include how an issuer manages its relationships with individuals, such as its employees, shareholders, and customers as well as its community. Governance (“G”) factors can include how an issuer operates, such as its leadership composition, pay and incentive structures, internal controls, and the rights of equity and debt holders. Carefully review an investment product's prospectus or disclosure brochure to learn more about how it incorporates ESG factors into its investment strategy.(0623-3WKH)

Every portfolio is different—and so are the people who manage active and passive funds. In this episode, we dig into the details of how fund managers at two different firms approach their role. Their decision-making processes vary according to the goals of the fund and their strategy for achieving those goals.First, Mark speaks with David Giroux, chief investment officer for equity and multi-asset at T. Rowe Price Investment Management. He and Mark discuss the guardrails that are in place to prevent some decision-making biases, what the buy-versus-sell decision actually looks like, exploiting market inefficiencies, and many other topics.Next, Mark is joined by Chuck Craig, senior portfolio manager for Schwab Asset Management. Chuck is responsible for oversight and day-to-day management of international equity index Schwab Funds and Schwab ETFs. He holds a master of science degree in financial markets and trading and is a CFA® charterholder. As a manager of a passive index fund, Chuck's perspective on the buy-versus-sell decision is much different. He and Mark discuss how tracking an index works, how to balance risk, and the importance of securing tax efficiencies within the fund.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder.If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresInvestors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. Please read it carefully before investing.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.Experiences expressed are no guarantee of future performance or success and may not be representative of you or your experience.This third party content presented is intended for informational purposes only and was provided by a third party source believed to be reliable. Neither Schwab Asset Management, Charles Schwab & Co., Inc. (“Schwab”), nor its affiliates, endorse nor can guarantee the accuracy, timeliness or completeness of the information presented.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Diversification, asset allocation, and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. Rebalancing may cause investors to incur transaction costs and, when a nonretirement account is rebalanced, taxable events may be created that may affect your tax liability.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Investing involves risk, including loss of principal.Environmental, social and governance (ESG) strategies implemented by mutual funds, exchange-traded funds (ETFs), and separately managed accounts are currently subject to inconsistent industry definitions and standards for the measurement and evaluation of ESG factors; therefore, such factors may differ significantly across strategies. As a result, it may be difficult to compare ESG investment products. Further, some issuers may present their investment products as employing an ESG strategy, but may overstate or inconsistently apply ESG factors. An investment product's ESG strategy may significantly influence its performance. Because securities may be included or excluded based on ESG factors rather than other investment methodologies, the product's performance may differ (either higher or lower) from the overall market or comparable products that do not have ESG strategies. Environmental (“E”) factors can include climate change, pollution, waste, and how an issuer protects and/or conserves natural resources. Social (“S”) factors can include how an issuer manages its relationships with individuals, such as its employees, shareholders, and customers as well as its community. Governance (“G”) factors can include how an issuer operates, such as its leadership composition, pay and incentive structures, internal controls, and the rights of equity and debt holders. Carefully review an investment product's prospectus or disclosure brochure to learn more about how it incorporates ESG factors into its investment strategy.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets.  Investing in emerging markets may accentuate these risks.Currencies are speculative, very volatile and are not suitable for all investors.Schwab Asset Management™ is the dba name for Charles Schwab Investment Management, Inc., the investment adviser for Schwab Funds. Schwab Funds are distributed by Charles Schwab & Co., Inc. (Schwab), Member SIPC. Schwab Asset Management and Schwab are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation.Schwab ETFs™ are distributed by SEI Investments Distribution Co. (SIDCO). SIDCO is not affiliated with The Charles Schwab Corporation or any of its affiliates.Schwab receives compensation from T. Rowe Price to market and promote their funds, in addition to any shareholder servicing fees the fund company pays to Schwab which creates conflicts of interest. Learn more here about the compensation Schwab receives.  Schwab's Financial and Other Relationships with Mutual Funds(0423-31PC)

The idea of making your portfolio your own typically involves adding and subtracting specific investments. The concept of "addition by subtraction" is a key component of an investment strategy that's been going mainstream lately. In this episode we look at one potential way you can subtract or add to your portfolio by using a method known as direct indexing. This strategy allows investors to own individual stocks that reflect the characteristics of the index they wish to track.The main advantages of direct indexing are personalization and tax-loss harvesting. But there are some downsides as well: tax-loss harvesting is only valuable if you have gains to offset and there is the operational burden of owning individual securities compared to index mutual funds and ETFs.  To discuss the ins and outs of direct indexing, Mark Riepe is joined by DJ Tierney. DJ is a director and senior investment portfolio strategist for Schwab Asset Management. He has over 25 years of experience in institutional sales, trading, and capital markets, with an extensive background in and knowledge of ETFs and fixed income. He and Mark discuss separately managed accounts, the history of index investing, tax-loss harvesting, and many other topics.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder.If you enjoy the show, please leave us a rating or review on Apple Podcasts.Important DisclosuresInvestors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. Please read it carefully before investing.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Investing involves risk, including loss of principal.Neither the tax-loss harvesting strategy nor any discussion herein is intended as tax advice. Tax-loss harvesting involves certain risks including unintended tax implications. Investors should consult with their tax advisors and refer to Internal Revenue Service ("IRS") website at www.irs.gov about the consequences of tax-loss harvesting. Strategies that use screening to exclude certain investments may not be able to take advantage of the same opportunities or market trends as strategies that do not use screens. There can be no assurance that the strategies will achieve their desired outcomes. Each investing strategy brings with it its own set of unique risks and benefits.Schwab Asset Management™ is the dba name for Charles Schwab Investment Management, Inc. Schwab Asset Management and Schwab are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation.(0423-388D)

In this episode, we hear Jodi's story. Jodi started her career in finance and developed a love of travel. She also had a passion for gender-lens investing and nonprofits that served young women. As she progressed in her career, Jodi faced a crossroads in her life. How would she find a path that fit her values?The company that Jodi founded is Connecting Growth Globally. CGG connects people to meaningful travel experiences in Africa, Central America, Southeast Asia, the US, and other locations.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.Schwab Charitable™ is the name used for the combined programs and services of Schwab Charitable Fund™, an independent nonprofit organization, which has entered into service agreements with certain subsidiaries of The Charles Schwab Corporation.These testimonials, statements, and opinions are given by the individual(s) based solely on the person's experience with Schwab Charitable Fund, not with any services offered by a third party, and may not be representative of the experiences of other advisors or clients. The testimonials are voluntarily provided and no compensation, free products or services, or any benefits were given in exchange for the testimonials. They are not indicative of future programs, services, performance, or success. Some statements have been edited.Market fluctuations may cause the value of investment fund shares held in a donor-advised account to be worth more or less than the value of the original contribution to the funds.Jodi is a client of both Schwab and Schwab Charitable and was not compensated by Schwab for their comments. The experience described may not be the experience of all clients and is no guarantee of future performance or success.Investing involves risks, including loss of principal.International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets. Investing in emerging markets may accentuate this risk.Connecting Growth Globally is not affiliated with Schwab. All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.(0323-38MK)

There are many long-term financial-planning decisions we can lose sight of as we navigate the unexpected avenues of our lives. If left unchecked, these choices we made years ago may not match up with our current situation. Is there anything to consider in 2023 to help determine if these past decisions still make sense?In this episode, Mark Riepe is joined by Rob Williams, a managing director of financial planning, retirement income, and wealth management at the Schwab Center for Financial Research. They discuss five themes you should monitor in 2023 that should cause you to take a closer look at some of your financial-planning or wealth management decisions that normally don't get that much attention.Read Rob Williams' "2023 Planning and Wealth Management Outlook."Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder.If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Investing involves risk, including loss of principal.Neither the tax-loss harvesting strategy nor any discussion herein is intended as tax advice. Tax-loss harvesting involves certain risks including unintended tax implications. Investors should consult with their tax advisors and refer to Internal Revenue Service ("IRS") website at www.irs.gov about the consequences of tax-loss harvesting. Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.(0323-3VTH)

Many people set New Year's resolutions, but sadly, most don't keep them. In this episode Mark Riepe offers several suggestions for keeping you on track with your resolutions, as well as proposing some specific resolutions that can help you better manage your financial life—whatever the date you choose to implement them.Mark talks with Carrie Schwab-Pomerantz about two of the most popular resolutions: setting and sticking to a budget and how to pay off debt.Then Rob Williams, managing director of financial planning and retirement income, discusses ways you can optimize your portfolio—and how you can prepare for the unexpected.Choiceology host Katy Milkman contributed to research about the “fresh start effect,” which is the tendency for people to get motivated to change their life after temporal landmarks like New Year's Day or anniversaries.To read more about setting—and sticking to—your own financial resolutions, check out Rob's article “New Year's Financial Resolutions.”Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Important DisclosuresInvestors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges and expenses. You can obtain a prospectus, or if available, a summary prospectus by visiting schwabassetmanagement.com. Please read it carefully before investing.Please read the Schwab Intelligent Portfolios Solutions® disclosure brochures for important information, pricing, and disclosures related to the Schwab Intelligent Portfolios and Schwab Intelligent Portfolios Premium programs. Schwab Intelligent Portfolios® and Schwab Intelligent Portfolios Premium™ are made available through Charles Schwab & Co. Inc. ("Schwab"), a dually registered investment advisor and broker dealer. Portfolio management services are provided by Charles Schwab Investment Advisory, Inc. ("CSIA"). Schwab and CSIA are subsidiaries of The Charles Schwab Corporation.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Investing involves risk including loss of principal.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed-income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Diversification, asset allocation, and rebalancing a portfolio cannot assure a profit or protect against a loss in any given market environment. Rebalancing may cause investors to incur transaction costs and, when rebalancing a non-retirement account, taxable events may be created that may affect your tax liability.Money market funds are neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.(0123-38Y8)

After a tough year for the markets, what's in store for 2023? In this year-end bonus episode, Schwab experts look ahead to consider what investors might expect from the markets in the new year.First, Mark talks with Liz Ann Sonders, Schwab's chief investment strategist. Liz Ann offers her perspective on the direction of the U.S. economy and stock market. She and Mark discuss inflation, interest rates, company earnings, and the job market, among other topics.Next, Mark speaks with Kathy Jones, Schwab's chief fixed income strategist. Kathy looks at what bond investors might expect from the Federal Reserve and fixed income assets in the new year.Then, Jeffrey Kleintop—Schwab's chief global investment strategist—joins the show and examines what 2023 might hold for the global economy and markets.Finally, Mike Townsend, Schwab's managing director of legislative and regulatory affairs, offers his outlook on what to expect from a divided Congress and a busy regulatory environment.Subscribe to Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder.If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market or economic conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Investing involves risk, including risk of loss.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.Supporting documentation for any claims or statistical information is available upon request.All corporate names are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see schwab.com/indexdefinitions.Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets. Investing in emerging markets may accentuate these risks.There are the risks associated with investing in dividend-paying stocks, including but not limited to the risk that stocks may reduce or stop paying dividends.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed-income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors. Lower-rated securities are subject to greater credit risk, default risk, and liquidity risk.Tax-exempt bonds are not necessarily suitable for all investors. Information related to a security's tax-exempt status (federal and in-state) is obtained from third parties, and Schwab does not guarantee its accuracy. Tax-exempt income may be subject to the alternative minimum tax. Capital appreciation from bond funds and discounted bonds may be subject to state or local taxes. Capital gains are not exempt from federal income tax.Commodity-related products carry a high level of risk and are not suitable for all investors. Commodity-related products may be extremely volatile, illiquid and can be significantly affected by underlying commodity prices, world events, import controls, worldwide competition, government regulations, and economic conditions.Currency trading is speculative, volatile and not suitable for all investors.Digital currencies, such as bitcoin, are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view Bitcoin as a purely speculative instrument. Google Podcasts and the Google Podcasts logo are trademarks of Google LLC.Spotify and the Spotify logo are registered trademarks of Spotify AB.Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries.(1222-2BLT)

The cryptocurrency landscape is vast. There are well over 10,000 types of cryptocurrencies. For investors who are looking for exposure to this space, are there indirect opportunities that might reduce some of the risk? In this episode, Mark Riepe is joined by Inga Rachwald, a senior portfolio strategist for Schwab Asset Management. They discuss the development of various crypto and blockchain technologies, various use cases for specific cryptocurrencies, and financial instruments available to investors looking for indirect exposure.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresInvestors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. Please read it carefully before investing.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market or economic conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Investing involves risk, including risk of loss.Fiat curency is a government-issued currency that is not backed by a commodity such as gold.Digital currencies, such as Bitcoin, are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view Bitcoin as a purely speculative instrument.Virtual Currency Derivatives trading involves unique and significant risks. Please read NFA Investor Advisory – Futures on Virtual Currencies Including Bitcoin  and CFTC Customer Advisory: Understand the Risk of Virtual Currency Trading. Charles Schwab Futures and Forex LLC is a member of NFA and is subject to NFA's regulatory oversight and examinations. However, you should be aware that NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets.You should carefully consider whether trading in virtual currency derivatives is appropriate for you in light of your experience, objectives, financial resources, and other relevant circumstances. Please note that virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but it does not have legal tender status. Virtual currencies are sometimes exchanged for U.S. dollars or other currencies around the world, but they are not currently backed nor supported by any government or central bank. Their value is completely derived by market forces of supply and demand, and they are more volatile than traditional fiat currencies. Profits and losses related to this volatility are amplified in margined futures contracts.Currencies are speculative, very volatile, and not suitable for all investors.Futures trading involves a high level of risk and is not suitable for all investors.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.All corporate names are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Correlation is a statistical measure of how two investments have historically moved in relation to each other, and ranges from -1 to +1. A correlation of 1 indicates a perfect positive correlation, while a correlation of -1 indicates a perfect negative correlation. A correlation of zero means the assets are not correlated.Schwab Asset Management™ is the dba name for Charles Schwab Investment Management, Inc. Schwab Asset Management and Schwab are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation.Google Podcasts and the Google Podcasts logo are trademarks of Google LLC.Spotify and the Spotify logo are registered trademarks of Spotify AB.Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries.(1222-2TE4)

In this special episode, we hear the story of Mary Anne. Mary Anne and her twin sister Virginia were very close growing up. But as they pursued different careers, they lived on different sides of the country. After her sister's untimely passing, how did Mary Anne find a way to honor her sister's memory?The event that Mary Anne organized benefited one of her sister's favorite organizations, the Hingham Historical Commission.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab.If you enjoy the show, please leave us a rating or review on Apple Podcasts.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.Schwab CharitableTM is the name used for the combined programs and services of Schwab Charitable Fund™, an independent nonprofit organization, which has entered into service agreements with certain subsidiaries of The Charles Schwab Corporation.These testimonials, statements, and opinions are given by the individual(s) based solely on the person's experience with Schwab Charitable Fund, not with any services offered by a third party, and may not be representative of the experiences of other advisors or clients. The testimonials are voluntarily provided and no compensation, free products or services, or any benefits were given in exchange for the testimonials. They are not indicative of future programs, services, performance, or success. Some statements have been edited.Market fluctuations may cause the value of investment fund shares held in a donor-advised account to be worth more or less than the value of the original contribution to the funds.Mary Anne is a client of both Schwab and Schwab Charitable and was not compensated by Schwab for their comments. The experience described may not be the experience of all clients and is no guarantee of future performance or success.Hingham Historical Commission is not affiliated with Schwab.(1122-2T6J)

Taxes are a big issue for any investor. For people likely to incur federal estate tax, does it make sense to give away assets to family members sooner rather than later? The answer to that question can be fraught with all kinds of psychological and emotional issues. But it's important to contemplate the details of different lifetime gifting strategies if you want to maximize what you leave for your heirs. To understand more, Mark Riepe speaks with Susan Bober, a director in Schwab's Wealth Strategies Group in Indianapolis. Mark and Susan discuss why the idea of giving money to family members can cause so much fear and anxiety, the annual exclusion gifting strategy, and the importance of finding an advisor you trust.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresThis information is not intended to be a substitute for specific individualized tax, legal or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner or investment manager.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions.Investing involves risk including loss of principal.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.There are minimum requirements to work with a consultant and the Wealth Strategists Group. Wealth management refers to products and services available through the operating subsidiaries of The Charles Schwab Corporation, of which there are important differences including, but not limited to, the type of advice and assistance provided, fees charged, and the rights and obligations of the parties. It is important to understand the differences when determining which products and/or services to select.(1122-24F0)

Anyone who has invested for more than a few years has seen their share of bear markets, bull markets, down economies, and recessions. But each circumstance is different. Heraclitus said that you can't step into the same river twice: The person is different, and the river is different. When the economy turns downward, what are some strategies you should keep in mind? What's the context around the current market and macroeconomic conditions? In this episode, Mark Riepe interviews Schwab's chief investment strategist, Liz Ann Sonders.A few of the issues Mark and Liz Ann discuss include:How and why we label the economy as being in a recession;What an "earnings recession" and a "rolling recession" are;Inflation and interest rates;Unemployment, the housing market, and many other topics.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Important DisclosuresInvestors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. Please read it carefully before investing.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions.Investing involves risk including loss of principal.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions.The National Bureau of Economic Research (NBER) is a private, nonpartisan organization that facilitates cutting-edge investigation and analysis of major economic issues.(1022-27JC)

What do you do if you haven't put enough money into your retirement account over the course of your working life, and you know you don't have enough money or time to fund the retirement you want?You might be tempted to act like a losing football team and throw caution to the wind with a Hail Mary pass. But your financial life is more consequential than a football game, and what you don't want to do is to make a bad situation even worse.If your retirement plan has gotten off track, there are still some actions you can take to try to get it back on track. In this episode, Mark Riepe speaks with Cindy Scott. Cindy is a CERTIFIED FINANCIAL PLANNER™ professional with Schwab in Westlake, Texas, and has helped hundreds of people in setting retirement goals and creating plans to pursue those goals and achieve them. She was a guest on the show back on Season 8, Episode 3: "How Can You Set Better Goals?"A few of the issues Mark and Cindy discuss include:How to get an accurate assessment of how much money you'll need in retirement;Four levers you can use to try to get back on track;The role of Social Security in retirement;Tax efficiency, cash reserves, and many other topics.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresInvestors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. Please read it carefully before investing.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Investing involves risk including loss of principal.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Diversification, asset allocation, and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. Rebalancing may cause investors to incur transaction costs and, when a nonretirement account is rebalanced, taxable events may be created that may affect your tax liability.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund.Charles Schwab & Co., Inc., a licensed insurance agency, distributes certain life insurance and annuity contracts that are issued by non-affiliated insurance companies. Not all products are available in all states.All corporate names are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries.Google Podcasts and the Google Podcasts logo are trademarks of Google LLC.Spotify and the Spotify logo are registered trademarks of Spotify AB.(0922-2KBC)